Egon Spengler, Peter Venkman, Ray Stantz, and Rookie exit the Sedgewick Hotel and meet up with Winston Zeddemore. However, also outside is the Stay Puft Marshmallow Man. Ray assured everyone it wasn't his fault this time. Peter tried to jilt Ray out of his shock and asked what they had on hand to stop Stay Puft. Winston remembered Ray was supposed to finish up the installation of the Super Slammer. Peter was intrigued by the sound of a new invention. Egon warned the Super Slammer was never intended to trap the minions of a god but in theory it could. Peter brushed off the possible dangers of trying. They had to clear a path for Ecto-1b first. After coming across several cars, Stay Puft's residue animated and several Stay Puft Minis manifested. They attack like a pack of wolves but all Rookie has to do is disperse them with a few blasts of Proton Streams. Continue towards Stay Puft and he will throw a car on fire at the Ghostbusters. Luckily, the car helped clear up the pile up.

Multiple Hobo Ghosts swarmed the guys. Rookie should keep Ecto-1b behind or near him throughout the battle. Disperse their P.K.E. with Proton Streams than wrangle them with the Capture Stream. Instead of using Traps, utilize the Super Slammer on Ecto's roof. After trapping the four entities, Ray will drive forward but the guys are attacked by more Hobo Ghosts and Stay Puft Minis. Rookie should focus on dispersing the Minis first then join the others in trapping the Hobo Ghosts.

Egon suddenly detected some significant readings behind them. The three gargoyle statues on the facade of the Sedgewick Hotel animated and flew towards the Ghostbusters. Rookie should focus on one at a time and blow each up with the Proton Stream. Once all three are destroyed, head left and Construction Worker Ghosts emerge from a laundromat. Wrangle them into the Super Slammer and proceed. More Stone Gargoyles and Construction Worker Ghosts will attack the guys. Employ the same strategy as before and focus on destroying the Stone Gargoyles before working on trapping the ghosts.

The Rookie and Winston has to work their way through a haunted laundromat in order to open a way for the Ecto-1 through an alleyway. Try to go left of the laundry machines and they will rearrange positions to provide a new path. Take out the P.K.E. Meter and search around to find Galliano's Enchanted Pail. Look for a door on the right and take it. Rookie and Winston find themselves in an alley. Turn right. There happened to be a pile of marshmallow residue and a tanker leaking gas blocking Ecto's path. Egon activated the Boson Dart function on the Proton Pack to clear away the debris. Fire a Boson Dart and watch as the tanker explodes and dissipates the residue. Lead Ecto down the alley. Look around for a table. Next to it is 3-Toed Jenkins's Midnight Goose. Before heading back onto the street, look along the left wall for garbage bags in a row. Look for the entrance to Otto's Bar and Rookie will find Patrelli's Mischievous Traffic Cone. Just as Ecto reenters the streets, go left. Watch out for flying debris to come crashing down. Stick close to Ecto and keep on moving.

The guys notice an opera theater. Ray recognizes the "Hindenburg The Opera" as a show that was shut down when the stage caught fire and killed the cast. Peter only remembered it was an awful show. Winston agreed and noted the show's ruthless producers reopened it last week. Egon and Ray agree it's a good idea to take readings. Rookie discovered Black Slime, a hazardous form of ectoplasmic residue toxic to both body and soul. Suddenly, Black Slime Portals formed and ghosts manifested. At the sight of the trio of Opera Diva Ghosts, Ray teased Peter about a plump girl Peter went on a blind date with. Open fire with Proton Streams but keep moving. When the diva waves her hands around, she will charge. If she gets behind Rookie, she will unleashing a sonic attack. Wrangle them into the Super Slammer. Stone Gargoyles and more ghosts attack. Stay near Ecto and away from the Black Slime Portals. Destroy the Gargoyles first then trap the ghosts with the others. Once the area is cleared, head down the street with Ecto.

The Ghostbusters made it to Times Square and caught up to Stay Puft. However, they needed to get closer to use the Super Slammer on him. Ray noticed Stay Puft was looking in buildings for something... or someone. Ray sank into his seat. A news reporter reported live amid the chaos and noted this Stay Puft Marshmallow Man was not the same one that starred in the popular children's television show. He was relieved to see the Ghostbusters had arrived to save the day.

The Ghostbusters have to avoid Stay Puft's attacks while figuring out what he is after. Egon announced Super Slammer went offline and needed to be fixed. Ray and Rookie should open fire on Stay Puft with Proton Streams. He diverts his attention to them and hurls cars their way. He will then throw Stay Puft Minis. Disperse them with Proton Streams. Stay Puft will get angrier and throw a billboard. Luckily, it lands and creates an escape path. Retreat but keep shooting at Stay Puft.

Stay Puft continues throwing Marshmallow Minis, and after a few more shots of Boson Darts he those something that blows up cars. Ray says to get to the building.
Eventually, Ray and Rookie will make their way to the base of a building. Follow Ray inside. After entering a building, our heroes must defeat swarms of Stay Puft's minions. Blast throw them and head to the other side of the floor. Look around on the front desk for a red phone, it's Asmodeus' Hotline. Head over to the elevators. Two executives tried to close the door on Ray and Rookie but Ray stuck his foot out in time. Rookie and Ray remained silent as the executives bickered about being trapped in the building.

Ray and Rookie enter an office. Equip the P.K.E. Meter and follow some readings down the hall to a door. Enter slowly into a drafting room. Walk to the center and scan around. Stay Puft Minis animate and attack. Rookie should plant himself against a wall and unleash Boson Darts at the Minis. Once the Minis are all dispersed, take out the P.K.E. Meter and head to the rear right corner of the room. It's opposite to the entry. Rookie should find the Hohman's Black Low-Rise on a table.

Head to the door in the far left corner. Open it and immediately unleash some Boson Darts on the swarm of Minis in the hall. Head down the hall and fight off the Minis. The Stay Puft Marshmallow Man will try to attack from outside but keep moving. About halfway down the hall, after Stay Puft bashes a window, go left and look for a painting on the left wall. It is the last Cursed Artifact of the level, The Ravishing Red Prince.

Go back into the hall and race to the end. Kick open the door on the right. Ray and Rookie find Stay Puft's target, a woman. She's the same woman that was in the Natural History Museum when the Psi Energy Pulse was set off. Ray summons Peter for help by mentioning a 'damsel in distress.' Keep blasting at Stay Puft. When the woman runs for it, Stay Puft follows. Disperse the Stay Puft Minis then follow after the woman. Dash across the room once it's all clear. At superhuman speeds, Peter soon arrives and meets up with everyone in an exit hallway.

To everyone's surprise, the woman asked if Stay Puft was the manifestation of Gozer. Peter and Ray exchanged looks. The woman prompted everyone to head upstairs to the roof.

Two groups of two Construction Worker Ghosts attack the Ghostbusters on the roof. To make things quick, disperse their P.K.E. with Boson Darts then trap them.

The Stay Puft Marshmallow Man climbs his way to the top. Blast his face with Proton Streams until he falls over. Egon radios them with good news, he finished repairing the Super Slammer and was en route. As they all look over the edge, Stay Puft starts climbing back up and Rookie almost takes a plunge. Ray and Peter get a hold of him and implore him to blast Stay Puft.

Suspended by a harness, Rookie must both blast Stay Puft in his squishy face as well as roast about 20 Marshmallow Minis that spawn from him. Keep blasting and periodically venting the pack. When he gets close, nail him with a Boson Dart to knock him down a couple floors. When Stay Puft regains his grip, he will spew Stay Puft Minis. Don't bother shooting one at a time. Just perform a sweeping blast to knock them all over the building. Stay Puft should take some damage, as well. Whenever Stay Puft moves his head back, he's about to spew marshmallow residue at Rookie. Aim for his mouth and fire. With the final shot, Stay Puft explodes and blankets 5th Avenue in marshmallow. Egon and Winston arrive, ready to use the Super Slammer but Ray informs them they just drove through Stay Puft.

During "Panic in Times Square," Winston refers to Free Roaming Vapors by their acronym, "FRV." This acronym was used in early drafts of the first film.

The news reporter seen late into the Panic in Times Square Level is based on the likeness of Hunter Woodlee, who is now CEO of Controlled Chaos. [1]

The two businessmen that share an elevator with Ray and the Rookie in the Panic in Times Square Level is based on the likeness of two Sony executives, Mark Caplan and Keith Hargrove, who wanted to be in the game. Originally, the incidental characters were going to be based on the two leads from the reality television show "Ghost Hunters" but legal rights fell through and the executives were used instead. [2][3]

The end of this level resembles in theme the confrontation of Gozer/The Stay Puft Marshmallow Man in the first film.

The layout to the stairwell that leads to the roof is erroneously designed. As the player goes up Stay Puft will show it's climbing along by leaving a trail on the left side of the wall smashed in and a final one on the wall clockwise near the top from where the player enters the stairwell on floor 33. The smashed in walls would suggest the stairwell is located on the corner back of the building. Once on the roof the location of the stairwell seems to be more in the center of the building ridiculously far from the ledge where the last wall is smashed. A hole made on the 34th floor along the trail shows the area outside is big enough for Stay Puft. Directly above it is where the player first walks out to the roof that appears invisible from hole, in fact you can shoot the wall that's up there leaving a charred trail.

During the "Hindenburg: The Musical" area, on the side of the street apposing the Theater, if a ghost is wrangled too high it will get stuck near the building and it can't leave nor can a player move it out of the area. Restarting at last checkpoint is an option.

[All of the Ghostbusters see the return appearance of the Stay Puft Marshmallow Man

Ray: It wasn't me this time, I swear it.

Peter: The Super Slammer? Sounds untested, tacky and exciting. I'm in. But will it work?

Winston: [on the walkie talkie] WOW! It's like Christmas came early.

Ray: Earlier than what? They started Christmas before Halloween this year. Santa came to my house dressed as Dracula.

Ray: I mean the Marshmallow Man is scary, sure, but there has to be a better way to destroy the world.

Ray: [on the walkie talkie] Venkman, come in please. It's pandemonium up here - chunks of the building missing everywhere. You are required at this site now!

Peter: [sitting in a stairwell taking a break] I'm so happy to be in demand but these sugarballs have got me nailed down. I can't get past 'em. They're disgusting! And they're unhealthy!Ray: Uh, did I mention there's a spectacularly beautiful lady in distress?Peter: I'll be right there.

Egon: [on the walkie talkie in Ecto-1] Ray, Peter. We're in position, the trap is set. We're prepared to capture Stay Puft. Where is he?

Peter: He's that white puddle you're driving through.

Peter: You know, I never forget a face, attached to all the rest of that.

Dr. Ilyssa Selwyn: My name's Ilyssa. DOCTOR Ilyssa Selwyn.

Egon: We'd like you to come to our lab so we can run some brief tests and ask you more questions.

Peter: Here's an easy one: make I take you out for Thai or Mexican tonight? We usually don't let the clients make these kinds of calls, but it's that kind of day.Dr. Ilyssa Selwyn: Wow, Dr. Venkman. That time you almost went 45 seconds without saying something abrasive. Wanna try for a whole minute next time?